By William Gullotti
Buffalo, N.Y., March 7 – Chongqing Xinshuangquan Urban Construction and Development Co., Ltd. priced RMB 452.4 million of 7½% bonds due 2026 at par after the market closed on Wednesday, according to a subscription agreement released by Cinda International Holdings Ltd.
Cinda International, via its wholly owned special purpose entity Cinda International Capital Ltd., subscribed for RMB 28 million of the offering for investment purposes.
The subsidiary is acting as a joint lead manager and joint bookrunner for the offering.
The other joint lead managers and joint bookrunners were not disclosed in the subscription agreement.
CMB Wing Lung (Trustee) Ltd. is the trustee.
Listing for bonds is expected on the Hong Kong Exchange effective March 14.
The issuer is a state-owned enterprise, located and operating in Dazu District, Chongqing, involved in infrastructure construction and commodity sales.
| Issuer: | Chongqing Xinshuangquan Urban Construction and Development Co., Ltd.
|
| Amount: | RMB 452.4 million
|
| Issue: | Bonds
|
| Maturity: | March 13, 2026
|
| Bookrunner: | Cinda International Capital Ltd.
|
| Trustee: | CMB Wing Lung (Trustee) Ltd.
|
| Coupon: | 7½%
|
| Price: | Par
|
| Yield: | 7½%
|
| Call: | For taxation reasons at par
|
| Puts: | At 101 upon change of control; at par for a no registration event
|
| Trade date: | March 6
|
| Settlement date: | March 13
|
| Listing date: | March 14
|
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